Security News > 2021 > June > 71% of organizations experienced BEC attacks over the past year

Business email compromise attacks are one of the most financially damaging cyber crimes and have been on the rise over the past year.

This is according to GreatHorn report, which revealed that spoofed email accounts or websites were the most experienced form of a BEC attack as 71% of organizations acknowledged they had seen one over the past year.

What makes BEC attacks so successful is the availability of basic personal information online, that can be used against an employee who might be suffering from screen or email fatigue - thus stealing credentials to gain access to confidential and important data.

"The findings in this report confirm the industry trends we've seen over the past year. With the majority of organizations operating on a fully remote or hybrid work schedule, the floodgates for cybercriminals have been opened," said Kevin O'Brien, CEO of GreatHorn.

One of the largest factors that has played into the rise of BEC attacks and impersonation efforts is the continued remote work policies in place with the majority of organizations.

Additional key stats 43% of organizations have experienced a security incident in the last 12 months, with 35% stating that BEC/phishing attacks account for >50% of the incidents.

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